Follow the White Rabbit*

Should draw Trendline ...

Yesterday , I examined my chart.
I marked my arrow on the chart where I thought CLwill come to it....
Then I closed the chart and the PC.
I opened my chart in the this morning.
I found that, for the 1st time since 2009, the monster following my mark.
Oh yeah it was a SIM.

December is a slow month for trading...which make it a good time to test an Xperimental setup.
This setup is executed in sniper style....
1 or 2 bullet in a session, then considered DONE.
Since 2009, this is the 1st time I will test this kind of setup...
As I will enter my 5th year of trading (sim, live) , probably this is also my bamboo tree...
The concept of Bamboo tree that things happen after 4 years is easier to graps than concept of '10,000 hrs

also refer to:
http://emekatalks.wordpress.com/2013/05/27/a-lesson-you-must-learn-from-the-chinese-bamboo-tree/
http://www.merakoh.com/2013/07/09/the-chinese-bamboo-tree-looking-for-growth/

If you lost in a dense tropical jungle tropical (like here in Malaysia)
In order to going home..
what will you do ?
You find the river first. You need water and food.
Food ? Fishes in the river are food.
Then what ?
You locate the mountain. or the highest peak.
You need to lock your position relative to that mountain.
From a high peak, you know the sun direction or if a rescue helicopter can comes to you ;)
Once you know the high (mountain) and low (river) of the jungle,
your survival rate will be better...
If you are a trader, your jungle is your chart.
So what about the high and low of your jungle...
That's the secret. Only you know the secret of your jungle.

Added an indicator to volume section - to warning possible 60% chance of choppping heads session

there 5 filters in this setup, to take away thinking process from the brain when tired.
I WILL sim TRADE WHAT I SEE...the last stage to collect data.This self tailor made 610 tick chart is used with standard 5 and 15 min chart

I will add 500t chart in addition to 5 min chart.

and I will print 500t chart - 10 charts each on Monday, Tuesday, Thursday and Friday.

Before each seesion I will read trading rules, glimpse 10 charts and PRETENDING LIKE Al PAcino that I have 10million buck in my account ;).

So when trading time, all I need to do is kill that mouse and has no worry of money.

https://www.bigmiketrading.com/trading-journals/17308-day-trading-crude-without-indicators-882.html#post365470

DetroitMoney

I was curious mfbreakout. Do you trade real money daily? IF so how long have you been in the live CL market?

DM

" Question which are specific to a trader asking the question should be asked via PM. Questions like, what is your OR, what is your indicator on your chart, what time did you enter the trade etc. should be asked via PM." Please

follow this next time. I will answer since i need to answer another question also.

Have been trading CL for 2 years. Yes.

I will take this opportunity to answer some related issues since lot of traders are struggling day after day and they

watch BTR411 clearing 100 ticks per set up, mf breakout clearing $500 here and $700 there etc.

I have said it many times but it's worth repeating. Without proper equity account a day trader makes his job harder

beyond imagination.

With a 20K account most brokers will let a trader trade 3-4 cars. My recommendation always has been

1 car for 25 K equity account. This means one need to have 50K account for 2 cars. I have traded myself and

see other traders push the envelope in terms of trading maximum size and then not been

able to handle the PRESSURE.

Even more important than equity account is ones financial situation outside trading account.

I personally ONLY know of 2 traders who are successful beyond anyone's imagination. One has a full time business

and trades 4-6 cars a set up and does very well. He has very little pressure to make money and does very well.

The other one is full time trader for last 30 years and it's tough to describe his success. I have compared

my trades with his. In majority of the cases we are on same side of the trade but his results are just out of this

WORLD. He has no pressure because most IMPORTANTLY he knows what he is doing plus financially he is like FORT KNOX.

He did not started with 10K, 20K to make millions. He started out financially VERY secure, learned his craft like all of us and never looked back.

He has NO FEAR. NONE. Why? because as long his premise and set up is correct market can move 100 ticks against

him and it will not make any difference whatsoever in his life, his account. He can loose 5 days in a row on full size

and it will not make a difference. By the way one will have to go way back in his trading career to find 5 loosing days in a row.

I am financially quite secure but have lost a life time of savings in REAL ESTATE during 2007 bubble. So i still have

SCARS left plus large losses during first year of trading.

I know every set up of these 2 traders and trade them daily but i can not match their performance primarily due to

losses i had in the past. The day i get over that HUMP watch out.

I got lot of e-mails from traders and they keep on struggling primarily due to in sufficient equity accounts and i am

pretty sure that their financial situation is not conducive to day trading . I will say to the traders who have reached out to me that you know everything you need to know. Take care of financial side first.

Bottom line day trading CL is not hard. It has ATR of 140-200 ticks on more than 70% of the days.

It should not be HARD to grab 40-70 ticks a day from this provided one is financially very secure and use

common sense in day trading.

3 traders. Same method, set ups but different execution based on fear.

Mfbreakout= Trading with moderate fear, moderate results.

Mentor #1= Some Fear, good results.

Mentor #2= No fear EXCEPTIONAL results.

I bet a traders execution gets screwed depending upon the level of FEAR on has while trading. A common sense trading approach

plus strong financial security will take care of FEAR and your method will look like the best in the WORLD.

Environment is important for trading.
Edge is also important.
But EIA wednesday messing my edge.
So I will be trading on Mon, Tues, (Rest), Thu and Fri (Rest), (Rest).
Nice.
I'm not afraid to change my mind. ;)

Post edit; The color of wicks is not matter on direction. The most important is the position of the wicks - its direction & location.

After connecting some dots...me and you knew that I'm a so so trader wannabe...
behind my mind I knew a solid reason -- my account is small !

After few years, and after deep consideration I now will award myself a rest day on EIA day 9usually Wednesday). So I will simreal trade only 4 days/week - mon, tues, thu and Friday.- 8.45am to 10.45am each day. (2hrs)
CL Friday session will lull my mind to sleep and it has different characteristic than other days. (Suddenly mkt move - hey Mr Market celebrate my decision!)

I should include H & S pattern.

post edit : HS is a valid pattern in CL - bordering BB line and without proper Doji

this is a SIM...trying RR 1

If unsure , I need to wait 9am..this is a typical price action..no wonder I repeat the same mistake...there are some hints there

Since a long long time ago, I had this idea of SR line can act like a fence.
You and I know that at this point, the price action will act...
Then I jumped ....exactly at the Wrong Side of the fence.
The entry direction is totally bad, even though the entry place is totally good.
To have a good entry....I need to have more skills at reading direction by observing...

1) Wicks 2) Wedges 3)InsideBar 4) Head Shoulder 5) Doji 6) Big Candle Engulfing 7) DOMOTO Double or More Touch 8) HiHi LoLo witches 9) Fakey

However, there is one thing MORE important than the entry.
The exit.
I need to know where I should exit. Or do I need to leave it to my manager ? (Mr Stoploss).
Difficult to think during trading without visual aid...
However, yesterday I found the tool that I looking for afters years gone....the Reward risk tool ...lurking somewhere in the Sierra chart. It looked like this...
I have to thank the an anon trader that ask SC for this tool...
And kiss goodbye to that "Cut loss, profit run" rhetoric.

Again , this is only a RR tool...it will be a good tool if I have a good skill using it..

Nothing fancy....still use XP and DSL .
The pic taken after trading hour, so no live chart or DOM

- at left printer to print notable setups,
- hearing local radio station during trading is helpful...
-simple rules on the wall...changes often ;)
- direct line to call Chicago if there is any fire ;)
-May put a wall paper with a lake view and switch to optic fibre ..if I have +ve trading income later ;)
(the carrot)

update Apr 2014: using fiber optic now much smoother

good !

that facebook q is important before I trade... i aware that 5min is a better TF than 2min..must use 5 min now on

I realised that most of traders use 5 min chart for CL.
Yesterday prove this case, also like 1001 cases before...
I use a smaller TF than that 1 or 2 mins.
A democracy can failed at certain times - e.g. gov shutdown (let those clever politicians solved their problems). A democracy is always agree to disagree. But working as a team always need everybody to agree. Conclusion : Thats why politicians do the talking, and the others do the working.
However, democracy always right in trading, because democarcy in trading is risking the real working money
Therefore , I will use 1 of my eye to look at 5 min TFrame...
even though I hate that 5mins chart ;)

Wait for DOMOTO (Double or More Touch) to enter... here Wicks /doji /IB are ++ss

CL is difficult to trade and I dunno the cause. Closed DOM and later read other blogs that it was an FOMC day...
I dont do the homework..too tired from day job ;)

Not holding the 1st trade and obvious mistake at the 2nd trade..

As traders, we need basic PC know -how......I suspected a virus before and my Pc is slowing down...After much headache I remember a feature of "System Restore". I use this feature,and walla!, Pc back to normal. To be sure I will run anti malware. Now I wish I have "Account Restore" feature in my trading system

I suspected the Pc infected by virus and my Sierra cant properly run after my son use it to play onlines games.
On top of that the internet was not stable.
All are good excuses.
make me to think to buy another PC solely for trading.
And, next week muslims will have ramadhan fasting for a month.
Time for preparation for after-world, not just for world purposes i.e trading ;)

Trading activity disrupted by haze situation in my town....
Trading requires good environment in order to thrive..in market, and personal life.

http://thestar.com.my/news/story.asp?file=/2013/6/24/nation/20130624230053&sec=nation

market moved 2 min before 9am when I was doing something else as I was expecting later move.
90% of trading is just by showing up on time @ timing.
next Monday!

probably caused by witching Friday ?

Post edit : FOMC

Feeling Good when I put passwords into Live DOM today after hours and hours in SIMming .... However , based on my rules, I projected the market in range, proven true later . Next session pls.

tough day but managed to get mini siM profit...
as the old timer said...'when the going get tough, minimize the losers'

Perfect, but I was at other place at that time...

Jim Rohn (success guru) explained failure as this:

"Simple errors in judgement repeated every day"

And success as;

"Simple disciplines repeated every day".

1 of the rule is I need to read the '1 sheet manual' before any session as I tend to forget simple rules.
Dont read that and lose in sim trading as I forgot all these simple rules..
yeah, I write many times.

...and I will take a live trade after my son back to boarding school

I found Doji are useful....I said many times in this blog.
To be sure I always remember that I will use *hooker tactic

* memory recalled. http://www.roadtoepic.com/remember-anything-forever-with-memory-hooks/

working.....

Need to hammer that into my fact & figure brain.

Fibo 50% is not a mumbo jumbo...damn.

Yes, still here..and now E6 frozen, but CL is kicking...
back to CL.
To prevent my mental energy draining, I designed one trigger condition that will make push that trade button in whatever 6E or CL or whatever is moving....
So my energy will reserve in monitoring without thinking the conditions.

written down 3 group of rules to trade 6E...

6E : beware of me :)

positive but too many trades...has to develop better " pick and trade".6E respected SR lines better than CL, also 6E moves like "normal people, and not moving like Mike Jagger as happened to CL"....therefore pullback style is more suitable to 6E...thanks to PIp Throwing party for pointing this fact.

2 main style Breakout or Pullback style

in certain condition this quote is true

Quotes from Pip T party : " The trend was up so we are taking buys on the pullback. No matter what pair or contract you are trading, wait for the trend to form up or down and then jump in on the pb's. Lets keep this simple!!!

gathered some clues of 6E.....SR lines were quite clearer..

The 1st instruments taht I tried was TF, after 2 years I thought that I got the dance, TF volume dwindles, then I switched to CL - after 3 years of following it and think I got the steps, CL morphed to an unknown thing and now I switched to 6E ...but I shall apply that basic things. Happy that my xp is not wasted . Time will tell when I live trade after switching optimization period is over...

Hard to predict CL nowadays, mostly ranging.....
Looking for 6E for opportunity

When the confidence level is up, it is good ...another round in SIM till the end of this week...as the performance could be discounted 50% once go live.

yes!

hmm...

child at home...distracted activity..sim in order to get the rhythm..still got it...weekly target USD250 seem possible and probably the right strategy for me at this point instead of "lottery" windfall...

I came across a simple idea to to trade bar by bar, its too simple and it would make me achieve 250usd/week , but as I said its too simple...neverthe less, I hope it will be a 'true strategy" .....more practise needed.

another positive +135... still trying....

the 1st video made me think of a larger bulb

http://bidsandoffers.blogspot.com/2013/02/why-people-dont-get-it.html

also

http://traderkingdom.com/trading-futures-education-topics/trading-futures-basics/2959-the-big-traders-secret-for-small-traders

Since Thu 21 Feb $ 120

The Rules of IFTTT
Watch lines and HHLL and
If this 1st morobozu touches line < red lines then short
If this 1st morobozu touch line > green lines, then long
or If this morobozu >SR lines, then long
or If this morobozu < SRlines, then short

10000 hrs theory

(I keep writing this pyscho things because I wanna pushed something really simple edge that I overlooked before - the blindspots)

I think a small trader with small capital need to invest more time than traders with bigger capital, as his 1 lot trade cant move market. Traders with banks will require less hours, and psychologically, have more confidence.

Therefore, to build up his money and confidence, the small trader need to be satisfied with small profits. After a while he can hold the position, looking for trends.

Why ? the emotional capital (confidence) is more important than money.

OK, I need a clear goal : (I have no profit goal all this while...)

I want to make nett $250 per week with 1 lot. That it . no more . no less with 40 sample trades

my mentor:
http://traderkingdom.com/trading-futures-education-topics/trading-futures-basics/2959-the-big-traders-secret-for-small-traders

I used pure price, + volume, 2 ma, 3 ma, rainbow ma...

now I will try 1 sma and read bid sell DOM ;

to get fast action ...and see the market reaction.

Democracy says majority always right....If I have a democratic mentality, I have higher chance in trading...

But if I have a political mentality, i.e. might is right and right is might, I have a lower chance in trading...

So in trading, democracy and politic are different things.

I wrote this in BigMike under diffname, and add here..

********

"this is subtle psychology problem that I called 'wrong kind of expectation'.

Show me any traders that don't want to lose...everybody want profits. THey all expect to win, they all want precise, calculated, scientific ;) and perfect entries....

positive thinking, thinking big can help in OthER biz and money is big motivation , but this kind of 'wrong kind of expectation' cant help in trading

trading is about business that making fewer mistakes so that the correct things will take care of themselves.

Could traders avoid mistakes at all cost ? Again, nobody....

mimimises mistakes and forget about money, and you'll find that the market give you money even though you dont want it anymore.. you passed this gate/mental block and you will enter the zone. or zen of trading....

If you read the right side of this blog, I put there some comments about expectation. And previous post, I also accidently came across 'expectation' again. The type of expectation in trading need to be clearly defined, as the mind want to know what to be expected. It's natural for a trader expect profits, but that not realistic in trading and could bring unnecessary pressures. The most important expectation is the ability to remained objective after a loss. It's not easy, but every traders need to pass "this gate" to proceed.

About my setups....today Friday and I took a break from simming my B&W setups. I feel good about this, but its weird that I felt no hurry as usual...enjoy the weekend, enjoy life

Quite surprising that I found my reaction is better in Black candles than greenred candles as I can see the imaginary lines, HH LLow more clearly.The colors can affect us > . http://www.energyandvibration.com/color.htm

Also I put my SMA below the chart, not together with the price so I can see more clearly. This is useful to gauge the Expectation > http://www.managementstudyguide.com/expectancy-theory-motivation.htm

+sim 120

Constant and change are powerful words
Only the powerfuls can keep things as normal as possible.
But change is a result that happened for old constant things
Therefore, how we can keep things constant but yet change things a bit...
Then a word such 'flexibilty' comes to the mind.
Flexibility is a powerful concept in trading.
Among soccer fans, phrase like 'bending' like Beckham is sounded familiar.

case in point :
I changed my chart frame form my usual number and I missed the familiar signal.

lesson:
May I say like this...dont change your setup but be flexible in changing your magnifying scope ?

Experienced traders told us that don't change your setup often as it will make you chasing success?

I thought when we already have a proven setup/ success setup, then we will not change it ..and why we want to mess up with a good thing ?

Thats why we need to be a clear about objective and deadline/time period to decide things ...

February will end soon, and I think I see the bulb...a tiny bulb. :)

Sim : -100

I will put a black & white chart besides the colorful one.
Like a photo, sometimes B & W picture has more meaning.
And trading is an art

Edit: SIM +190

1) Trading is not about logic, trading is more about result of 'styles' of majority traders (Yesterday, CL price bent at UNlogical SR lines).

2) Trading is not about an edge, but trading is more about 'fashionable tactic' of the moment. I discovered, accidently, that at the moment Fibos seems in fashion....and I know only a thing about Fibo..the 50%

3) Trading is certainly not random but trading is more like fashion of the moment.

Now, I remembered that some old traders said trading is both an art and science. I agreed in the 'art' part. I need to throw the 'science' part, less I will go 'crazy' applying 'scientific logic' in it.

The idea is promising, but as its new to me, still in simming mode...need higher green % as it will drop to 50% once I go live..the most important thing is not the statistic as I will use 'cut loss method' but more "*serotonin in the brain while trading it....

* Confidence level

my 1st break strategy has a diffult month in January, so i barely has live trade..this useful in lively mkt but CL lost its energy lately, so.....
I will add another strategy which i called 2nd chance @ pullback which has a smaller profit/risk range.

but Cl market seems loss of it's energy..... with occasional spurts

TRUE OR FALSE ?

For any trades/set ups to be successful.... majority of market participants has to believe in the same set ups (MD)
A doji is the entry mark in a randomness, a marobozu is the entry mark in a trend
A doji is the end mark in a trend, a marobozu is the end mark in a randomness
To read a proper price action, let your balls read 'along' the line, not the whole chart at once

WHY ?

Why a self-confessed price action trader use indicator(s), and the indies trader finally rely on price ?

Only 3 trading days.
Mon - market up then in choppy session
Tue- Remained choppy
Wed - Slightly down but still in choppy mood.

More players expected next week

Hepi New Year ! ....Here is my 1st screen view in SIM mode. I use 2x22"screens, 2nd screen has 2min and 30sec Sierra charts and AT Infinity DOM. After reviewed my blog records here, I plan to use these setup in Q1 2013 until further review. Before each session I shall draw my SR lines on main chart 10min and visualize my plan of the day i.e. to long, short, trending or ranging play. May the flow be with me. I may post daily OR weekly results here.

Monday 23 December 2013

Thursday 19 December 2013

Wednesday 18 December 2013

Tuesday 17 December 2013

Monday 16 December 2013

Thursday 12 December 2013

Thursday 5 December 2013

Thursday 28 November 2013

Thursday 21 November 2013

Friday 15 November 2013

Tuesday 12 November 2013

Friday 8 November 2013

Thursday 7 November 2013

Tuesday 5 November 2013

Thursday 31 October 2013

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Monday 28 October 2013

Friday 25 October 2013

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Saturday 19 October 2013

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Tuesday 15 October 2013

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Tuesday 9 July 2013

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Monday 17 June 2013

Thursday 13 June 2013

Wednesday 12 June 2013

Saturday 8 June 2013

Thursday 6 June 2013

Tuesday 4 June 2013

Wednesday 15 May 2013

Friday 26 April 2013

Wednesday 24 April 2013

Thursday 18 April 2013

Friday 5 April 2013

Monday 1 April 2013

Monday 11 March 2013

Friday 8 March 2013

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Tuesday 5 March 2013

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Friday 11 January 2013

Wednesday 9 January 2013

Friday 4 January 2013